Choreo LLC Has $189.05 Million Stock Position in Apple Inc. $AAPL

Choreo LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 921,480 shares of the iPhone maker’s stock after selling 5,132 shares during the quarter. Apple accounts for approximately 2.6% of Choreo LLC’s holdings, making the stock its 5th biggest position. Choreo LLC’s holdings in Apple were worth $189,053,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AAPL. Baker Boyer National Bank grew its position in Apple by 0.3% in the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after purchasing an additional 47 shares during the period. Salus Financial Advisors LLC boosted its stake in shares of Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after buying an additional 49 shares during the last quarter. Red Tortoise LLC grew its holdings in shares of Apple by 0.9% in the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after acquiring an additional 49 shares during the period. SigFig Wealth Management LLC increased its position in Apple by 2.8% during the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after acquiring an additional 50 shares during the last quarter. Finally, Shariaportfolio Inc. lifted its holdings in Apple by 1.3% in the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the transaction, the chief financial officer owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 228,052 shares of company stock valued at $58,604,588. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 0.6%

Shares of AAPL stock opened at $278.78 on Thursday. The stock has a fifty day simple moving average of $267.42 and a two-hundred day simple moving average of $235.90. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $288.62. The firm has a market capitalization of $4.12 trillion, a PE ratio of 37.32, a PEG ratio of 2.59 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 earnings per share. On average, analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio (DPR) is 13.92%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AAPL. Bank of America boosted their price target on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Monness Crespi & Hardt upped their target price on shares of Apple from $270.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 31st. Robert W. Baird set a $300.00 price target on shares of Apple in a research note on Friday, October 31st. Evercore ISI reissued an “outperform” rating and set a $325.00 price objective (up previously from $300.00) on shares of Apple in a research report on Monday. Finally, Melius raised their target price on Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $282.51.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.